Grow Your Business Through a Strategic Customer-Focused Approach

Competing against other brands is difficult. The market is saturated with so many companies and brands today that it is getting increasingly harder to stand out from the rest by solely going up against them. If you want your business to succeed, then it’s important to focus on your own brand, first, and target your ideal customers before trying to overtake your competitors.

To do this, you need a full-funnel marketing strategy and approach that is focused on 3 key areas: Awareness, Consideration, and Customer Acquisition. In this post, we’ll touch on five ways to key in on this approach and increase your ability to take on your competition.

 

Decide How You’ll Compete

Whether it’s a new product launch or a marketing campaign, you can’t simply compete on the brand name alone. There’s a time and a place for everything, and you have to understand what your business is best at and why it’s different from other brands (your UVP – Unique Value Proposition). If you don’t, you could waste a lot of time, energy, and money trying to compete in a market that isn’t ready for you yet. For example, let’s say that you have a product or service that people really want. However, it’s currently in demand with your competitors (or you have the same business type as your competitor). If you simply decide to enter the market and compete against those brands, then you’re going to end up failing miserably. Why? Because there’s no defined value you’ve provided for your ideal client or customer yet. 

 

Simply put, you have to decide what your unique value proposition is before you are going to compete. Once you know that, you can make more accurate decisions about how to expand your business.

 

Build Brand Awareness First

In order to take market share from your competitors, you need to build brand awareness. This is the general recognition that your brand exists among your target audience in comparison to other businesses/brands. If you want your business to succeed, then you have to understand that a large part of this is going to be built through marketing strategies and campaigns, focused on growing your audience, brand recall, and overall recognition. If you simply launch a marketing plan and hope that people will immediately recognize who you are and what your brand represents, then that’s not going to happen. Instead, you have to think long-term. Understanding that the more marketing campaigns you launch, the more awareness you’re going to generate among your ICP (Ideal Customer Persona).

 

Awareness can be done through videos, blogs, and valuable information about your industry and/or niche that will help your ICP without asking them for anything in return. It also drives your unique value and mission without directly selling your product or service.

 

Example

A soccer clothing brand showing you how to be better at dribbling the soccer ball. 

The brand never discusses its clothing, but instead provides a valuable takeaway and a memorable experience that creates awareness that the brand exists while providing value and showing the unique value of the brand being run by experienced soccer players and coaches. In turn, this will drive these awareness-level viewers toward consideration of the brand and products.

 

Create an Irresistible Offer

One of the best ways to build consideration among your prospective customers is by creating an irresistible offer. This is an offer that’s both valuable and useful to your client base. When you have an offer, your ability to sell a product or service goes up exponentially and you are more likely to create loyalty to the brand because of that value.

 

It will take time to build loyalty and sales through offers. It isn’t simply launching and hoping that it works. It takes a strategic framework and approach that is viewed as a long-term strategy with long-term results.

 

Example:

To keep with the above example of our soccer clothing, once a high-level prospect sees the valued content and then receives your consideration offer, they will begin researching and moving towards a sale. Enticing them to make a sale helps with initial customer acquisition, but what about long-term loyalty?

 

*Also, let’s not muddy an irresistible offer with a gimmicky offer. You’ve seen them and know exactly what they are. Instead, be your brand, be yourself, and show the value of what you can offer through a unique and authentic proposition. Gimmicks may drive initial growth, but cannot sustain long-term.

 

Build Loyalty

If you want your business to succeed, then you have to understand that loyalty through repeat business is the key to increasing Lifetime Value. There are two types of loyalty in the customer base. First, is customer loyalty which lasts for a particular product or service. Second, is customer loyalty which lasts for the company and drives repeat business and referrals. How do you build customer loyalty? There are a few ways to do this.

 

One way is to create offers for repeat business that makes your customers feel special. You can also create useful content that solves customer problems, makes your customers feel like they’re part of something bigger, or make your customers feel special by sending them gifts. All of these will help you increase customer loyalty.

 

Keep In Touch With Your Customers

Another key to customer loyalty and long-term success is to keep in touch with your customers. By making this a key part of your strategy, you are keeping the brand top of mind and standing up against the competition. Remember, client communication creates increased Lifetime Value, repeat business, and unique customer offers. It’s the recognition that your brand continues to exist and be important among your customers.

It goes to the old adage: “Out of sight, out of mind”. Instead,  stay “in sight and in mind”.

 

Conclusion

The most important point to remember is that you need to build awareness, entice through irresistible offers, create customer loyalty, and stay top of mind through communication. If you focus on these main areas, then you will have a good chance of succeeding in a saturated market by creating a specific marketing and business plan tied to goals and specific objectives to drive growth.

 

If you’d like to crush your marketing goals, then schedule a Strategic Marketing Roadmap Session.